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Moon aims to sign trade deal with Indonesia by November

All News 14:55 June 28, 2019

By Lee Chi-dong

OSAKA, Japan, June 28 (Yonhap) -- South Korea hopes to strike a trade deal with Indonesia by November, when Seoul's special group summit with the ASEAN is scheduled, President Moon Jae-in said Friday.

He delivered the message to Indonesian President Joko Widodo in their talks held on the fringes of the Group of 20 summit in Osaka, Japan.

The two sides are in negotiations on a Comprehensive Economic Partnership Agreement (CEPA), which is equivalent to a free trade agreement but also focuses on a broader scope of economic cooperation beyond trade.

Moon said he expects the talks to proceed well and an agreement to be inked on the occasion of the two-day South Korea-Association of Southeast Asian Nations special summit on Nov. 25.

In this file photo, taken Sept. 10, 2018, South Korean President Moon Jae-in (L) and Indonesian President Joko Widodo (2nd from L) visit a Dongdaemun shopping mall in Seoul. (Yonhap)

The special summit will be held in Busan to commemorate the 30th anniversary of ties between ASEAN and South Korea. It will be followed by a separate session on Nov. 27, involving the leaders of five ASEAN countries located around the Mekong River -- Cambodia, Myanmar, Laos, Vietnam and Thailand.

Moon also stressed that South Korea is an optimal partner in Indonesia's infrastructure construction, especially given its interest in light rail transit (LRT) systems, due to its related experience and technology.

He expressed hope in the joint project by the two countries to develop a next-generation fighter jet, code-named KF-X/IF-X.

Widodo appreciated the South Korean government's strong push for improving ties with Indonesia and other Southeast Asian nations, according to Cheong Wa Dae.

Having been reelected in May, Widodo proposed concerted efforts to bring bilateral relations to a new level over the next five years.


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